I was wondering what people typically do for gathering of performance metrics and statistics relating to SharePOint (avg page load time for certain pages and such). I've found the following http://spperformancetest.codeplex.com/ but before I invest any time into testing / deployment I was wondering if there was a better way to go about this or a more industry standard approach.

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There are dozens of ways of doing this and 3/3 studios I have worked with have performed this differently.

There are dozens upon dozens of online tools for this, varying from log analysis too robots that view it as a user would.

If it is a public facing website then I would definitely opt for pingdom tools for front end tests, and a database analyzer for back end test, but also using a system monitor and perform stress testing.

I personally stick to log analysis, a database analyzer and system monitor with stress testing, but I also only do this on projects that are that large it is impossible to calculate the requirements.